28JAN09:
Q1-09 DOW: 8900
Q2-09 DOW: 7250
Q3-09 DOW: 5810
Q4-09 DOW: 3960
CITI NATIONALIZED
OBAMA GETS SICK 27AUG09:
Mini Crash 21SEP09 Predicted correctly:
Bailout=Bonuses
Demise of Bear Stearns
Demise of Lehman Bros.
Demise of AIG
Subprime would cause problems
Date of 2007 crash
CRAs were to blame
G20 riots were a party
Northern Rock run
Northern Rock Nationalization
HBOS and RBS demise
UBS really was Useless
Following a Guinness day hangover on Thursday, and some decent fasting over the weekend, I am back to working, if that is what you call hassling headhunters.
My quants have let me down and the 21st September has come and gone and the top of the elusive W has caused embarrassment. There is some doubt as to whether this was a false nightmare due to poor factoring of the money supply and correlations to quantitative squeezing where government induced liquidity has been overstated, but whatever the reason the model needs a good shake out.
Today fasting is the order of the day so I shall be hungry and depressed.
Wakey Wakey According to the Times newspaper, Londoners get up on average at 6:04 am. This doesn't seem right for the rush hour is around 8 to 9, so this means it takes Londoners 2 hours or so to have their breakfast and shower or assuming a normal distribution, a large chunk of Londoners are waking up at 4 am everyday. No wonder Londoners looked so tired all the time.
Sometimes facts have to be challenged.
ANGELA MERKEL PREPARES TO FORM NEW GERMAN GOVERNMENT
Angela Merkel surged back into power last night at the helm of a pro-business Government that is committed to cutting taxes and ending a ten-year taboo on the use of nuclear power.
With her main challenger conceding defeat, the German Chancellor told cheering supporters that a new Government made up of her Christian Democrats and the liberal Free Democrats would lead the country out of crisis.
Fintag says EU Directive lovin' and locust bashing. This isn't good news at all.
The Internal Revenue Service has asked auditors in Manhattan to develop cases against offshore hedge funds and foreign companies it said are trying to avoid taxes on income from loans they make in the United States.
Bloomberg News reported that, on Sept. 22, the I.R.S. urged its financial services section to pursue a transaction the agency says seeks to improperly take advantage of an otherwise legal tax break. The agency also urged the official to be watchful for similar techniques.
Fintag says Tricky. But what if the loan is interest free? Which is likely given libor is almost nil? There will be no income. Back to back loans and Islamic type finance is as old as them hills but it seems tax is the new black. Soon good looking people will be taxed as well as those with feet greater than size 10.
I have an idea. Why don't governements tax us 100% and then give us pocket money? We need to be treated like small children.
Financial Mail last week attended a seminar for customers of insurer NFU Mutual in Matlock, Derbyshire. The session covered a range of financial topics, but the room really came to life once speakers tackled inheritance-tax and how to reduce the bill. The audience was made up of farmers, retirees and owners of small businesses.
One of those attending was Gill Fearn from nearby Darley Dale. Gill, 63, and husband Brian, 72, run a nursery and horticultural business. They are protecting themselves against IHT by gifting money to their son to help with a house deposit and by buying life cover, where the sum payable will be held in trust.
Fintag says Forget it. The tax authorities will soon be challenging everything and saying "take us to court". There are two options. One is to over pay tax and help out the poor and needy or secondly get your mates together and form your own currency and don't pay tax.
CITI SUES MORGAN STANLEY OVER CDS, CLAIMS $245 MLN
Citibank bought a credit default swap (CDS) from Morgan Stanley & Co International in 2006 on a $366 million revolving credit facility it provided to an issuer of collateralized debt obligations (CDO), according to the complaint filed in U.S. District Court in Manhattan.
The swap obliged Morgan Stanley to pay Citibank the money as a result of a payment default on the credit facility to the CDO, known as Capmark VI, it said in the complaint.
Fintag says I guess Citi needs all the help it can get so why not sue its rivals?
WHERE CITY SUITS STRIP OFF FOR SOME VERY BRUTAL BUSINESS
Cage fighting lets the wheelers and dealers - including women - swap the Square Mile for the violence of the Octagon.
The man spread-eagled on the canvas looks as if he is losing consciousness as the thighs of a 13-stone opponent crush his throat. Peering through the bars of the cage at the grunting tangle of limbs - where at least 10 other fights are going on - heads are being bashed, punches thrown and sides jabbed. It's a human soup.
The venue is the MMA Clinic, a dark gym down an alleyway in London's Islington. It is the only gym in central London with its own "cage", an octagon-shaped steel fixture that hems in a heaving mass unrecognisable from the stream of smartly turned out men who filed in through the door half an hour earlier.
Fintag says I have been to a couple and most of the fighters are ringers. The fighters are mostly hired in but it is quite funny. We all cheered when a Goldmaner lasted 30 seconds. The hardest come from Cazenove - it must be all that army training.
Brevan Howard Asset Management is opening an office in Switzerland, but Europe's largest hedge fund denies that it is planning to quit London.
The firm plans to open an office in Geneva, Reuters reports. Aron Landy, chief risk officer, did not say how many staffers would be based in the Swiss office, but said that it would be able to accommodate just about any type of employee.
Fintag says BH is hedging its bets. I really doubt it is going for the weather or the food. Geneva has 4 decent restaurants. Hopefully with this influx of well to do Brits, things will change. London has the greatest restaurants in the world (have you tried out Murano? The best by far) and Geneva needs to get its act together.
Alistair Darling is set to ask bankers to crack down immediately on bonuses in a key speech to Labour's conference.
The chancellor is to bring in new laws in the autumn but will say to bankers that there is no need to wait for legislation and they should act now.
Labour is using its week in Brighton to launch a fight back against the Tories, claiming it is now the "underdog".
Fintag says Uh? The government owns half of the UK banks so why doesn't it have a word with its own civil servants who run it instead of telling you and I? Oh, it is because there is a general election coming and beating up bankers seems fair play.
Of course this is all hot air. All the best staff will flock to those foreign banks not impacted (Chinese banks are very popular at the moment) or of course us Hedgies who pay handsomely to those who make money.
6 comments
Munch the Gretest said ...
First!!!
Bitches!
28 Sep 09 - 07:34 gmt
Panta said ...
Second
Cojone!!!
28 Sep 09 - 07:47 gmt
catsick said ...
dont kid yourself , tokyo has the best restaurants by faaaaar !!
28 Sep 09 - 09:05 gmt
Love the Swiss said ...
when do we see the bear market selloff/ plunge FINTAG??? Or is your crystal ball all fogged up..luv yah man!
28 Sep 09 - 17:13 gmt
anonymous said ...
"you are as good as your last trade"
28 Sep 09 - 17:27 gmt
Moron said ...
leave him alone bi*ches......I say there is a crash coming as well.....and when I speak.....I expect u muppets to shut up and listen:)))!!!!!!!!!!!!!!!!!!!!!
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